Fischer Says Fed Close to Reaching Goals and Lifting Rates
- Fed vice chair says global policy divergence is likely
- Rates are poised to increase more slowly than in the past
Fed's Fischer: Less Room to Use Expansionary Policy
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Federal Reserve Vice Chairman Stanley Fischer said the central bank has almost reached its goals for maximum employment and price stability, strengthening the case for raising interest rates.
“In my view, the Fed appears reasonably close to achieving both the inflation and employment components of its mandate,” Fischer told a conference at the Central Bank of Chile. “Accordingly, the case for removing accommodation gradually is quite strong, keeping in mind that the future is uncertain and that monetary policy is not on a preset course.”